Kansas City Royals

Sale of Royals from Glass to Sherman group is finalized

Published Nov. 26, 2019 12:07 p.m. ET

John Sherman and his co-investors become the third owners of the franchise.

The anticipated sale of the Kansas City Royals from David Glass to John Sherman's investment group was closed Monday afternoon, the team announced Tuesday.

The proposed transaction had been approved by a unanimous vote of major league owners last week.

Sherman and his co-investors become the team's third owners, following Glass and franchise founder Ewing Kauffman. The club is holding a news conference to introduce Sherman that will be aired live at noon Tuesday on FOX Sports Kansas City.

“On behalf of our distinguished group of Kansas City-centric investors, I am humbled by the opportunity to carry forward and build on the important legacy of the Kansas City Royals,” Sherman said. "... Our goal will be threefold: to compete for a championship on behalf of our fans; to honor their passion, their experience and their unwavering commitment; and to carry their hopes and dreams forward through sustained success in this great Kansas City region for decades to come.”

Sherman, who has lived in Kansas City for decades and started and developed two successful energy businesses based in Kansas City that he later sold, was a minority owner of the Cleveland Indians before buying the Royals.